Buy to Let: Landlords mount legal challenge

Landlords mount legal challengeDisgruntled Buy to Let landlords have mounted a legal challenge against the Government’s proposed changes to the way in which their rental income is taxed. In his first Budget after the election, George Osborne introduced measures increase the tax payable by Buy to Let landlords. At present a property investor can offset all the interest payable on a Buy to Let mortgage, thereby reducing the profit made and therefore the tax payable. However, Mr Osborne announced that the amount of interest which investors will be able to offset against income ...

Buy to Let: How much more Stamp Duty will you have to pay?

George Osborne sprang a surprise on property investors last week, when he announced in the Autumn Statement, that he will increase the Stamp Duty payable on the purchase of Buy to Let property and second homes. From 6th April 2016, anyone purchasing a property to let, or as a second home, will see a surcharge of 3% added to each band of Stamp Duty payable. The table below shows the rates of Stamp Duty currently payable and those which will be charged after the change: [table id=1754 /] The news will disappoint Buy to ...

Autumn Statement: Winners and losers

Investment Sense Verdict_istock Today’s Autumn Statement and Spending Review was relatively benign in terms of personal finance, with no changes to the main rates of tax, pensions (other than the State Pension) or savings. However, there were some significant surprises elsewhere, here are our early thoughts. Budget 2014: WinnersWinners People receiving Tax Credits Following a vociferous campaign against the proposed Tax Credit cuts, and the Government’s defeat in the House of Lords, George Osborne was always ...

Autumn Statement 2015: The headlines

The Chancellor, George Osborne, started his Spending Review and Autumn Statement in bullish mood, with a forecast that the four-year spending plan would deliver a budget surplus. However, he also confirmed that the £12 billion of welfare savings will be delivered “in full”, despite the House of Lords kicking out his plans to reform Tax Credits. The early sections of Mr Osborne’s speech were dominated by the usual assessment of the economy and forecasts for years to come, which are summarised as follows: GDP Growth The economy is predicted to grow as follows: 2015: 2.4% 2016: ...